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1190 Chimney Trace Way Lawrenceville, GA 30045

4 Beds 2 Baths 1,899 sqft Built 2003

$249,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $131.12
  • 3 Days on Market
  • MLS # : 6805879
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,899 sqft
  • Baths : 2 full
Listing Agent's Description

Very well-maintained 3BD/2BA brick front ranch w/upstairs bonus/4BR. Spacious Master BD w/sitting area. Many upgrades recently completed including laminate floors, tile in bathrooms, granite countertops in kitchen. New HVAC system, new roof and hot water heater. Side entry garage on corner lot.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k227k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30045

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731610

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lovin Elementary School Primary Regular 883 64 6
Mcconnell Middle School Middle Regular 1,666 93 8
Archer High School High Regular 2,432 121 8

Lovin Elementary School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 64
6
GreatSchools Rating

Mcconnell Middle School

  • Education Level: Middle
  • # of students: 1,666
  • # of teachers: 93
8
GreatSchools Rating

Archer High School

  • Education Level: High
  • # of students: 2,432
  • # of teachers: 121
8
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$919
Property Tax -$299
Property Insurance -$64
HOA -$33
Property Management Fees -$119
CASH FLOW
$46

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$249,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,110

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,480

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5504$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 1190 Chimney Trace Way Lawrenceville, GA 1
    • 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.78
    •  
  • 1212 Royal Ives Court Lawrenceville, GA 2
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2002
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 1214 Bramlett Creek Place Lawrenceville, GA 3
    • 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2002
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 820 Chapel Hill Drive Lawrenceville, GA 4
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2001
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 825 Donington Circle Lawrenceville, GA 5
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2015
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.79
    •  
PROPERTY LISTING DETAILS
Kelly Best
1.770.616.1102
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805879
Last Updated: 11/07/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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